The Hanover Insurance Group Inc Stock Forecast
Green day on Wednesday for The Hanover Insurance Group Inc stock after gaining 1.02%
(Updated on May 01, 2024)
The The Hanover Insurance Group Inc stock price gained 1.02% on the last trading day (Wednesday, 1st May 2024), rising from $129.82 to $131.15. During the last trading day the stock fluctuated 2.03% from a day low at $129.64 to a day high of $132.28. The price has risen in 6 of the last 10 days and is up by 3.59% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 38 thousand more shares were traded than the day before. In total, 202 thousand shares were bought and sold for approximately $26.53 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.05% during the next 3 months and, with a 90% probability hold a price between $122.32 and $132.34 at the end of this 3-month period.
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THG Signals & Forecast
The The Hanover Insurance Group Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $131.18. On a fall, the stock will find some support from the long-term average at approximately $130.32. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -1.78%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for The Hanover Insurance Group Inc stock
The Hanover Insurance Group Inc finds support from accumulated volume at $131.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.64 between high and low, or 2.03%. For the last week the stock has had daily average volatility of 1.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (THG) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect The Hanover Insurance Group Inc to open at $131.02, and during the day (based on 14 day Average True Range), to move between $128.82 and $133.48, which gives a possible trading interval of +/-$2.33 (+/-1.78%) up or down from last closing price. If The Hanover Insurance Group Inc takes out the full calculated possible swing range there will be an estimated 3.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $131.02 (0.10%) than the resistance at $133.15 (1.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Hanover Insurance Group Inc stock A Buy?
The Hanover Insurance Group Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.193 Sell Candidate Unchanged
Predicted Opening Price for The Hanover Insurance Group Inc of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$131.02 ( 0.0979%) | $131.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for THG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 133.66 | 1.91 % | |
R2 | 132.65 | 1.14 % | ||
R1 | 132.03 | 0.670 % | ||
Current price: | 131.15 | |||
Support | S1 | 130.02 | -0.87 % | |
S2 | 129.39 | -1.34 % | ||
S3 | 128.39 | -2.11 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 136.17 | 3.83 % | |
R2 | 133.52 | 1.81 % | ||
R1 | 133.15 | 1.52 % | ||
Current price | 131.15 | |||
Support | S1 | 131.02 | -0.0991% | |
S2 | 127.52 | -2.77% | ||
S3 | 126.31 | -3.69% |
THG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 26, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.85 | 0.624% |
2 | Dec 04, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.85 | 0.700% |
3 | Sep 05, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.81 | 0.730% |
4 | Jun 06, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.81 | 0.717% |
5 | Feb 27, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.81 | 0.630% |
FAQ
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